Anadarko sets August shareholder vote on Oxy takeover

This combo of file photos shows the logo for Anadarko Petroleum Corp. on the floor of the New York Stock Exchange and a logo on the Occidental Petroleum/ Occidental will acquire Anadarko with an offer worth $76 per share.

This combo of file photos shows the logo for Anadarko Petroleum Corp. on the floor of the New York Stock Exchange and a logo on the Occidental Petroleum/ Occidental will acquire Anadarko with an offer worth $76

This combo of file photos shows the logo for Anadarko Petroleum Corp. on the floor of the New York Stock Exchange and a logo on the Occidental Petroleum/ Occidental will acquire Anadarko with an offer worth $76 per share.

This combo of file photos shows the logo for Anadarko Petroleum Corp. on the floor of the New York Stock Exchange and a logo on the Occidental Petroleum/ Occidental will acquire Anadarko with an offer worth $76

Shareholders of Anadarko Petroleum will get to vote Aug. 8 on whether to approve the pending $38 billion acquisition of The Woodlands oil and gas producer by Occidental Petroleum, the company announced late Thursday.

The Anadarko vote on the biggest energy deal in years isn't expected to attract much resistance because a bidding war between Houston-based Oxy and Chevron sweetened the deal for Anadarko's investors.

There's much more opposition from Oxy investors, but they won't have a say-so in a vote because Oxy included enough cash in the deal to avoid a shareholder vote of its own. Oxy made a deal with Warren Buffett's Berkshire Hathaway firm to secure a $10 billion investment to help finance the deal and nullify any need for a shareholder vote on the Oxy side.

Oxy Chief Executive Vicki Hollub has said she didn't want avoid a shareholder vote, but she knew Anadarko was more likely to accept the Oxy bid over Chevron if there was no risk of a vote potentially canceling the deal.